“money” whether 0’s and 1′ in a computer, some shiny metal or even some random item like sea shells only works when everyone believes the same thing
specifically WRT a smooth running economy, people have to agree upon three characteristics (for money)
1) store of value
2) medium of exchange
3) unit of account
given this framework AND said another way, if people trust they will be paid (i.e. “unit of account”) BUT later on come to believe they were not given what they think they were promised OR they think they are being asked to pay a bill which they don’t think they deserve,… there will be social disorder in the economy
specifically brought up the LA Times article about the homeless because seems this is yet another example where politicians (and the bureaucracy) essentially have been allowed to spend other people’s money unwisely,… $130,000 for an 8-foot-by-8-foot shed? WTF?!
was never a TRUMP fan and don’t want to open up a political debate, but seems its programs like this that cause conservatives (especially those who have not been fortunate enough to build up a rainy day fund) to question why should politicians (and the bureaucracy) essentially be allowed to spend other people’s on an 8-foot-by-8-foot shed that costs 130k
when I said at the end of the OP just have to wonder with all the debt in the system, how much longer this can continue,… consider here in SD WRT the local homeless issue
[quote] In total for November, San Diego taxpayers spent $5.7 million to temporarily house about 900 people — just over $190,000 a day
now looking at the bigger picture of unreported news,… consider that politicians (and the bureaucracy) in this city once again (for the holiday season) with unanimous approval voted to give themselves a 13th pension payment,… despite the portfolio underperforming the target benchmark and being billions in debt (this FYI is the same portfolio mismanagement that caused the city of detroit to declare they were bankrupt)
at the end of the day seems there isn’t lots of value being created, given the amounts being billed to taxpayers for various programs being controlled by politicians (and the bureaucracy)
